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What is Power Finance Corporation Limited mean?
Power Finance Corporation Ltd. (P. F. C.) is an Indian financial institution under the ownership of Ministry of Power, Government of India. Established in 1986, it is the financial backbone of Indian Power Sector. PFC's Net worth as on 30 September 2018 is INR 383 billion. PFC is the 8th highest profit making Central Public Sector Enterprise (CPSE) as per the Department of Public Enterprises Survey for FY 2017–18. PFC is India's largest NBFC and also India's largest infrastructure finance company. Government has raised status of PFC from ' Navratna' to 'Maharatna' company on 12 October 2021.
Initially wholly owned by the Government of India, the company issued an initial public offering in January, 2007. The issue was oversubscribed by over 76 times, which is one of the largest for an IPO of any Indian company. PFC is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). It is also an ISO 9001:2000 certified company and enjoys the status of Navratna Company in India. On 6 December 2018, the Government of India approved PFC's takeover of REC. The acquisition transaction was completed on 28 March 2019 with PFC paying almost Rs. 14,500 Crs to the Govt. of India for the 52.63% stake.
reference nanPosted on 14 Oct 2024, this text provides information on Miscellaneous in Navratna Central Public Sector Enterprise related to Navratna Central Public Sector Enterprise. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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